Question

How to calculate Tax Income and Capital Gain?

Answer 1

Answer:

Step-by-step explanation:

Answer 2

Tax Income
This is taxed based on how much you make in one year. Based on how much the individual makes in this year will effect the taxed amount.

Step 1
83,465 x 5.05 = 4214.98

Step 2
(Note this is the second tax at 9.15)
83,465 x 9.15 = 7637.04

Step 3
(Add both taxed together for total income tax paid)
7637.04 + 4214.98 =11,852.02